Physicians Insurance Company of Wisconsin Inc. will merge withProAssurance Corporation in an all stock deal worth $100million.
The companies said the transaction is expected to be completedas early as mid-2006, subject to the approval of PIC Wisconsin'sshareholders and other regulatory requirements.
PIC Wisconsin is a medical liability insurer based in Madison,Wis., founded 20 years ago by the Wisconsin Medical Society.According to National Underwriter's HighlineData Service, thecompany reported net written premium of more than $57 million in2004, with total assets of $278 million.
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